Indicator analysis. Daily review for the EUR / USD currency pair 03/11/2020

Trend analysis (Fig. 1)

Today, from the level of 1.1640 (the closing of yesterday's daily candle), the market can continue to move up with the goal of 1.1683 which is a pullback level of 23.6% (blue dotted line). If this line is tested, further upward work is possible with the goal of 1.1720 which is a pullback level of 39.2% (blue dotted line).

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Figure 1 (daily chart).

Complex analysis:

  • Indicator Analysis – up
  • Fibonacci Levels – up
  • Volumes – up
  • Candle Analysis – up
  • Trend Analysis-up
  • Bollinger Bands – up
  • Weekly Chart - the up

General conclusion:

Today the price may continue to move up with the target of 1.1683 which is a pullback level of 23.6% (blue dotted line). If this line is tested, further upward work is possible with the goal of 1.1720 which is a pullback level of 39.2% (blue dotted line).

Unlikely scenario: When moving up and reaching the pullback level of 14.6% - 1.1659(blue dotted line), the price may start moving down to the support level of 1.1622 (white bold line).

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